5 months after officially ending drilling ban; Obama Administration approves a deepwater drilling permit

It only took 5 months after the drilling ban and a $1.46 per gallon increase to get Team Obama to approve a deepwater drilling permit.

WASHINGTON (AFP) – The US government has awarded its first permit for deepwater drilling in the Gulf of Mexico since a moratorium was lifted after the BP oil disaster last year, a senior official said Monday.

Michael Bromwich, head of the Interior Department's Bureau of Ocean Energy, said the permit was approved for US firm Noble Energy after a thorough vetting process and marked "a significant milestone" for Gulf operations.

"Noble Energy's application has met the requirements of our new safety regulations and information requirements," Bromwich said in a conference call with reporters.

Higher gas prices are causing worry of a double-dip recession. If the economy tailspins back into recession, President Obama's reelection chances are dismal and none.